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Cleveland Foundation
The Cleveland Foundation was established on January 2, 1914, in Cleveland, Ohio. It functions as a community foundation that accepts and manages charitable...
Cleveland Foundation
The Cleveland Foundation was established on January 2, 1914, in Cleveland, Ohio. It functions as a community foundation that accepts and manages charitable funds from multiple donors while directing resources toward local needs in arts, education, and human services. No single family wealth source is disclosed; the endowment aggregates contributions from Greater Cleveland residents and institutions. Investment activity spans private equity at 10.8 percent of assets, hedge funds, real estate, and philanthropic or mission-related investing. The foundation maintains a fossil fuel-free socially responsible investment pool valued at $44 million, a racial equity investment pool, and a green bond pool developed with Key Private Bank. Confirmed holdings include direct stakes in Rid-All Green Partnership through a program-related investment and MAGNET through a mission-related investment. Geographic focus centers on Cleveland and surrounding areas in Ohio within North America, with additional exposure through public market holdings. The foundation employs 165 professionals and operates from its headquarters at 6601 Euclid Avenue. It maintains joint-venture real estate positions including the MidTown Collaboration Center and MidTown Innovation District land. In November 2024 the foundation participated as an attendee at National Philanthropy Day events in Cleveland. Supporting organizations such as the Frank Hadley and Cornelia Root Ginn Foundation and the Medical Mutual of Ohio Charitable Foundation extend its grantmaking reach. A core structural feature is the separation of donor-advised funds from the foundation's own balance sheet through affiliated supporting organizations and specialized pools. This architecture allows independent governance of each vehicle while the main endowment executes direct real estate and mission-related investments in the local market.
General information
Firm type
Endowment / Foundation
Year founded
1914
Location
Region
North America
Country
United States
City
Cleveland
Corporate office
6601 Euclid Avenue, Cleveland, OH 44103, United States
Principals
Lillian Kuri
President and CEO
Randell McShepard
Chairperson of the Board of Directors
Richard Stovsky
Vice Chair of the Board of Directors
Constance Hill-Johnson
Board Member
Sector focus
Frequently asked questions
Who runs investment decisions at Cleveland Foundation?
Lillian Kuri serves as President and CEO. Investment oversight involves multiple external advisors including JPMorgan Chase Bank, Key Bank, PNC Bank, Northern Trust, and BNY Mellon Wealth Management, each active since 2012 (per Altss research record).
Does Cleveland Foundation participate in fund commitments or only direct deals?
The foundation executes both. It holds private equity exposure at 10.8 percent and maintains direct real estate ownership plus program-related investments in operating businesses such as Rid-All Green Partnership (per Altss research record).
What investment stages does Cleveland Foundation typically target?
The foundation indicates interest in startup-stage opportunities alongside buyout, growth, and secondaries strategies. Its direct holdings focus on established local operating businesses and real estate projects (per Altss research record).
Which sectors does Cleveland Foundation explicitly avoid?
The socially responsible investment pool excludes fossil fuel securities. Broader exclusions apply to non-ESG names and companies lacking racial equity commitments in the dedicated REI pool (per Altss research record).
How is Cleveland Foundation related to its supporting organizations?
It maintains five affiliated supporting organizations including the Frank Hadley and Cornelia Root Ginn Foundation and the Medical Mutual of Ohio Charitable Foundation. These entities operate under the foundation's umbrella but focus on specific grantmaking areas such as education and health (per Altss research record).
Where does the underlying wealth come from?
Assets derive from aggregated donor-advised funds contributed by Greater Cleveland individuals and institutions rather than a single family or corporate source (per Altss research record).
Does Cleveland Foundation maintain philanthropic structures, and how are they separated?
Yes. The foundation houses donor-advised funds and operates the Black Philanthropy Center initiative. Governance occurs through a board of directors and separate supporting organizations that keep specific charitable vehicles distinct from the main endowment (per Altss research record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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